The bad news for Spicer shareholders continues with the announcement yesterday evening that trading in the company's share has been suspended at the request of Spicer Holdings directors.
The announcement comes after the company's principal bankers informed it that they are unlikely to continue the facilities granted to it.
Spicer said last month that it was considering what was to be done with the company as its last remaining operation, Swedish company IT Konsult, suffers from a slowdown in its market.
Spicer, which incurred a R12 million loss for the year to June, decided to cede IT Konsult as security after disposing of its only other asset - MIS - in July.
The future of Spicer is now unclear. Acting chairman Coert Vorster admitted in September that the company was dependent on the continued support of financiers.
The company says now that its board is considering its options. The board called for the suspension of the share in view of the uncertainty, it adds.
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